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FD news: Vodafone appoints new group CFO

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16th Oct 2013
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A round-up of significant executive moves, announcements and other developments from the world of business during October 2013.

Vodafone appoints new group CFO

3 October – Vodafone has revealed that its group chief financial officer, Andy Halford, intends to leave the company at the end of March 2014 to be replaced by Nick Read.

Following the conclusion of Vodafone's transaction with Verizon Communications, the board has decided to appoint Read as group CFO-designate, effective from 1 January 2014 and will be appointed to the board on 1 April 2014.

Read will be succeeded as chief executive of the Africa, Middle East and Asia-Pacific (AMAP) region by Serpil Timuray on 1 January 2014. Both will report to Vodafone group chief executive Vittorio Colao.

Halford joined Vodafone in 1999, was appointed CFO for Northern Europe, the Middle East and Africa in 2001 and became the CFO of Verizon Wireless – Vodafone's US joint venture with Verizon Communications in 2002. He was appointed to the board as group CFO in 2005.

Halford said: “Next year will be the right time for me to move on and seek the next challenge in my career, and I thank the board, Vittorio and the team for their support over the years.”

Read joined Vodafone in 2001 and was the CFO at Vodafone's UK operating company before being appointed UK chief executive in 2006. He was appointed to the role of chief executive for the AMAP region in 2008. Prior to joining Vodafone, he spent 10 years at Federal Express Worldwide where he was vice president and CFO for Europe. He was also the former CFO of Miller Freeman Worldwide, the largest division of United News and Media.

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Future reveals new CFO

1 October - International media group Future has announced that Graham Harding will step down as chief financial officer to be replaced by Zillah Byng-Maddick, formerly CFO and interim chief executive at Trader Media Group.

Harding, who has been at Future since 2000 and was appointed group CFO in 2011, will leave after the company's preliminary results in November to pursue other career opportunities.

Mark Wood, chief executive, said: “We are indebted to Graham for his tremendous contribution to Future's development over many years and in particular his recent success in strengthening the balance sheet. We wish him every success with his future plans.”

Byng-Maddick was CFO at Trader Media Group from 2009 to 2012 and interim chief executive from 2012 to 2013. She will join Future on 1 November and formally take over as CFO on 18 November. Zillah is a non-executive director at Betfair and Mecom Group.  

Mark Wood addd: “Zillah has an outstanding reputation and her experience of leading a successful and rapid transition from print to digital at Trader Media Group is of enormous value to us at this time. She will help transform Future, accelerating the pace of change, which is key to us building a more profitable digital business.”

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